DOM, ~DGE, McDonald’s UK, Papa John’s GB, venue numbers & other:

A DAY IN THE LIFE:

Our dog does a very good ‘I’m disappointed with you’ sigh.

It’s usually accompanied by a sad-eyed and dejected slump to the ground and it’s often because I’ve either failed to stop it raining (again; apparently I can’t seem to get anything right) or because I’ve declined the invitation to run around like a mad thing on the grass in the one-in-a-thousand chance that some squirrel she’s seen will stumble and present itself up to a rather bloody end before rather than sprint up the nearest tree to throw acorns at us.

Which means, I suppose, that I’m playing the odds whilst she’s a believer that a one-in-a-thousand chance is infinitely better than no chance at all and who’s to say that either of us is wrong.

Anyway, rain yesterday meant we ran out of excuses as to why not to do the June VAT return, which prompted us to get on with it.

That and the threat of fines, of course but at least we got something done and, before Tuesday threatens to slip away from us, let’s move on to the news.

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PUBS & RESTAURANTS:

Venue numbers:

CGA and AlixPartners data suggests that ‘additional cost pressures from government policy around NICs and taxation combined with tough market conditions saw venue numbers fall in the first half of the year, with two premises closing every day for the first six months of 2025.’ The latest Hospitality Market Monitor ‘reveals a total of 98,746 sites operating at the end of June—374 fewer than at the start of the year. It equates to 62 net closures per month, or two per day.’ The data suggests that the number of venues is down by around 0.4% in the first six months of 2025….

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Jobs market:

The Telegraph reports that one in 10 graduates have already changed their career plans over fears that artificial intelligence ‘will upend their job prospects….’

Consumer pulse:

Accountant KPMG’s latest Consumer Pulse suggests that ‘consumer confidence remains below pre-pandemic levels, with Q2 2025 showing limited signs of recovery….’

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Evolving tastes:

Turning from the ability to spend to the desire to spend, the latest GO Technology report, from Zonal in partnership with CGA suggests that 74% of consumers are seeking out venues that offer ‘elevated experiences’…

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Other news:

LFLs. These are currently skewed by the weather and by the fact that the Euros ran until 14 July last year and featured England in the final. And the riots last year – and particularly the media coverage thereof – did hold back demand at this time last year.

Wales. UKH reports that ‘besieged Welsh hospitality businesses are now facing substantial and potentially damaging business rates hikes after the Welsh Government sidelined the sector in a new batch of rating plans….’

DOMINO’S PIZZA GROUP:

DOM reports system sales rose by 1.3% to £777.8m. It adds that revenue was up by 1.4% at £331.5m and underlying EBITDA slipped by 7.4% to £63.9m. DOM reports that underlying PBT was some 14.8% down at £42.7m. Underlying EPS was down by a similar 14.3% at 8.4p and the H1 dividend has been increased by 2.9% to 3.6p.

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COMPANY NEWS:

Diageo has reported full year numbers to 30 June saying that net sales slipped by 0.1% to $20.25bn with operating profit some 27.8% lower at $4.335bn. The company reports net profits down by 39.1% at $2.538bn and EPS is a similar 38.9% down at 105.9c. The group is recommending a final dividend of 62.98c to take the total for the year to 103.48c…

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Naked Wines has reported full year numbers saying that revenue of £250.2m is in line with management expectations across all markets. It says adjusted EBITDA excluding inventory liquidation and associated costs of £6.7m (FY24: £8.7m) is also in line with guidance. The statutory loss before tax of is £4.9m, down from last year’s loss of £16.3m.

McDonald’s UK has reported numbers for the year to 31 December 2024 to Companies’ House saying that revenue slipped by a little under 1% to £1.82bn. ~The company is owned by McDonald’s Real Estate LLP and the ultimate parent is McDonald’s Corporation in the US. The gross profit percentage was raised slightly to 45.3% (2023: 45.0%) and administrative expenses were sharply lower at £164.5m compared to £223.9m in the prior year. Franchise fees paid over rose slightly despite lower turnover. Overall, PBT roughly doubled to £120.1m from £66.3m in 2023…

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Papa John’s GB Limited has reported numbers to 29 December to Companies’ House saying that revenue fell by 7.6% to £88.7m. The GP% slipped from 28.5% to 28.1% and, though admin costs were cut by some 7.5%. the loss before tax widened from £19.3m in the prior year to £21.8m in the year under review…

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HOLIDAYS & LEISURE TRAVEL:

Staycity Group has announced that it has opened its boutique lifestyle aparthotel brand, Wilde, in the centre of Cambridge. The unit offers 227 studio and one-bed apartments sleeping up to four people.

Accor has reported Q2 numbers saying that  revenue in H1 was up 2.5% on last year to €2.7 billion. It says global occupancy rode by 0.7 percentage points to 64.7 per cent. Q2 REVPAR was up by 4.1% to €78. The company reports that it had a solid H1 but cautioned that demand in Q2 remained ‘flat’.

Lyft has announced that it will partner with Baidu of China to operate robotaxis across Europe from next year.

London Heathrow has now formally submitted its expansion plan comprising a third runway to the UK government.

Eurostar has called on passengers to delay journeys to and from Paris ‘due to part of the track being temporarily closed on the French network.’ This was reported to be down to a power failure.

OTHER LEISURE:

Tesla has granted CEO Elon Musk $29bn worth of its shares. A court had earlier struck down his 2018 pay package, worth around $50bn, saying it was “unfair to shareholders”.

FINANCE & MARKETS:

The Bank of England’s MPC is widely expected to announce a 25bp cut in UK interest rates when it next comments this Thursday. Inflation is currently almost twice the Bank’s target rate (of 2%) at 3.6%.

Sterling higher at $1.3283 and €1.1497. Oil lower at $68.54. UK 10 year gilt yield down 2 basis points at 4.51%. World markets most better yesterday and London set to open around 36 points better as at 6.30am.

RETAIL WITH NICK BUBB:

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